Kapitel became the majority shareholder of Viru Keskus

The Competition Authority granted approval in January this year and on the 1st of February the transaction entered into force – Pontos Group sold its share in Viru Keskus to Kapitel and Tristafan. The parties do not disclose the price of the transaction.

Viru Keskus, with a leasable area of 29,500 m², completed its largest refurbishment project in its history in spring 2023. It resulted in the renewal of 86 stores and 90% of the centre’s premises. Viru Keskus invested nearly 20 million euros and the center’s tenants contributed an additional 15 million euros to renovate their stores. In the near future, Viru Keskus plans to renew the outdoor areas around the centre simultaneously with the construction of a new tramway and the repair of the roads and streets. Viru Keskus is the only Baltic shopping center with the highest sustainability recognition, platinum-level Leadership in Energy and Environmental Design (LEED) certification for Operations & Maintenance (O&M).

Kapitel is one of the largest real estate companies in the Baltics, with a portfolio of more than 270,000 m² of rental premises. The company is a large shareholder in four shopping centers (Spice and Spice Home in Riga, Panorama in Vilnius and Viru Keskus in Tallinn) and owns five office buildings (Delta Plaza and Sõpruse Ärimaja in Tallinn, Elemental Business Centre in Riga, Narbuto 5 in Vilnius and I.P. Pavlova 5 in Prague). Kapitel also owns Nordic Hotel Forum (operated by Nordic Hotels OÜ) and, together with Infortar AS, co-owns Tallink City Hotel (operated by Tallink Hotels). Kapitel also has a 50% shareholding in Kapitel Logistics OÜ, which owns two logistics centers on the Tallinn Ring Road. More information: www.kapitel.ee.

Tristafan OÜ is a holding company based on 100% Estonian capital. The Tristafan OÜ consolidation group includes six subsidiaries and eight affiliates in Estonia, Latvia and Lithuania. The main areas of activity of the group companies are real estate leasing and development, sales and technical servicing of construction equipment and agriculture.